Global Organic Spices market, which is slated to accrue revenue worth 24.32 (USD Billion) by 2026, is set to record the CAGR of nearly 5.2% over the period from 2020 to 2026.
Organic Spices Market
The global Organic Spices market, which is slated to accrue revenue worth 24.32 (USD Billion) by 2026, is set to record the CAGR of nearly 5.2% over the period from 2020 to 2026. The report offers assessment and analysis of the Organic Spices market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
Organic spices are the products that are free from bacteria and are spicy & natural. Apart from this, they provide health advantages and aroma or flavor to the food to which it is added. These products are utilized for improving the color of food products and taste to food along with preserving it. There are a spectrum of organic species used in preparing of food and this include turmeric, coriander, ginger, garlic, and chili powder.
Market Growth Drivers
Surge in the proportion of health-conscious customers and growing awareness pertaining to health advantages pertaining to the intake of organic spices will impel the growth of organic spice industry over the forthcoming years. Additionally, surge in the popularity of natural & exotic constituents in preparation of food as a result of long-lasting aromatic features will propel the business growth over the forecast timeline.
Furthermore, escalating requirement of organic turmeric in culinary, meat, snacks, convenience foods, and meat products due to high preservative features will spike the expansion of organic spice industry over the forecast timespan. A large number of food processing firms are adding organic spices in canned beverages, popcorn, yogurt, baked items, and sauces and this will transform into humungous popularity of organic spices over the estimated timeline. Some of the organic species like garlic and onion act as anti-oxidants as well as help in eliminating free radicals from the body. Furthermore, they help in controlling the metabolism of the body and detoxification of the human internal system, thereby driving the business trends.
Asia Pacific Market To Accrue Lucrative Gains Over 2020-2026
The growth of the market in the region over the forecast timeframe is due to large-scale production of the organic spices in China, India, and Vietnam. In addition to this, presence of high-yielding product varieties and existence of many agro-climatic regions in the Asia Pacific zone will contribute substantially towards the dominance of the sub-continent over the forecast timespan.
Key players profiled in the report include Unilever, DS Group, Organic Spices Inc., Monterey Bay Spice Co., McCormick & Company, Inc., and S&B Foods Inc.
The global organic spices market is segmented as follows:
Based on the product:
Based on the application:
Based on the distribution channel:
Surge in the proportion of health-conscious customers and growing awareness pertaining to health advantages pertaining to the intake of organic spices will result in the growth of organic spice market by 2026.
The CAGR of the industry is expected to be nearly 5.2% during the forecast timeline.
Asia Pacific will contribute remarkably towards the global market share over the estimated timeline.
The key market players include Organic Spices Inc., McCormick & Company, Inc., Unilever, Monterey Bay Spice Co., DS Group, and S&B Foods Inc.